HDFC takes 51% stake in Appolo Munich Healthcare

▴ HDFC Logo
HDFC to buy 21% stake in AMH

Apollo Hospitals Enterprise Ltd said that it had received an approval from Insurance Regulatory and Development Authority of India (IRDAI) on January 1 for the transfer of upto 51.2% stake held by the company along with Apollo Energy Company Ltd (AECL) and other shareholders in Apollo Munich Health Insurance Company Ltd (AMHI) to Housing Development Finance Corporation Ltd (HDFC).

The company added that AMHI, HDFC Ergo and HDFC have received requisite approvals for the said acquisition from Competition Commission of India (CCI), the Reserve Bank of India (RBI) and the last being from Irdai on January 1, 2020.

AHEL also added the board of Apollo Hospitals Enterprise has approved sale of the entire 9.96% equity stake held by AHEL in Apollo Munich Health Insurance Company on June 19, 2019.

The share-purchase agreements (SPA) had been executed by and amongst, AHEL, HDFC, HDFC ERGO General Insurance Company (HDEC Ergo), Apollo Munich Health Insurance Company Ltd (AMHI), Apollo Energy Company Ltd (AECL), Munich Health Holdings and other shareholders of AMHI for and in connection with the acquisition of upto 51.2% of shareholding of AMHI by HDFC from AHEL, AECL and other shareholders, Apollo Hospitals said.

Tags : #hdfc #stake #applolomunich #medicircle

Related Stories

Loading Please wait...

-Advertisements-




Trending Now

A New Dawn for Eye Health in Obesity: How Bariatric Surgery Repairs Early Eye DamageDecember 14, 2024
Healing Invisible Wounds: How Indian Government’s Bold Initiatives Are Tackling the Mental Health CrisisDecember 14, 2024
The 8-Hour Miracle: Here’s How Doctors Rewrote a Young Girl’s FateDecember 14, 2024
University of Manchester invites applications for MSc Climate Change: Science, Society and Solutions December 13, 2024
Pollution vs. Population: Can India Survive Its Toxic Air?December 13, 2024
New Milestone: First Cryopreserved Stem Cell Donation Helps Blood Cancer Patient December 13, 2024
Everest Medicines Announces the First Prescription of VELSIPITY(R) Issued in MacauDecember 13, 2024
Plastic Pollution Goes Personal: Microplastics Found in Human BloodDecember 12, 2024
The Fat-Fuelled Weapon Against Cancer: How the Keto Lifestyle is Redefining Cancer TherapyDecember 12, 2024
Gene Therapy in India: How Indian Scientists Redefined Hemophilia TreatmentDecember 12, 2024
Empowering India’s Workforce: FinX Raises $6M from Elevar Equity to revolutionise employability in the BFSI IndustryDecember 12, 2024
India’s Win Over Malaria: A Global Health Victory in ProgressDecember 11, 2024
TB-Free India by 2025: Bold Vision or Achievable Reality?December 11, 2024
Aakash Healthcare Supports the 14th Special Athletic Meet for Children with Special NeedsDecember 11, 2024
The University of Manchester invites applications for an MSc in International Disaster ManagementDecember 10, 2024
Preventing Mother-to-Child HIV Transmission: Strategies and ImportanceDecember 10, 2024
USIBC Signs MOU with Government of Telangana, Hosts AI and GCC Industry RoundtableDecember 10, 2024
CarDekho Group’s New Auto Segment’s Shift in Fuel Preferences Report: Electric Vehicles (EVs) Lead the Chart with 26% YoY Traffic Increase December 10, 2024
India’s leading eCommerce enablement platform Shiprocket appoints industry veteran Vivek Sharma as VP of International ShippingDecember 10, 2024
Failure to find all TB cases defeats us in #endTB effortsDecember 10, 2024